Rhodium market hits 20-month high after Amplats' bid
Rhodium prices have leapt to their highest in 20 months, as buying interest from Anglo American Platinum (Amplats) coincided with strong demand and lower first-quarter output in South Africa, two sources familiar with the matter said. Although it is normal for any large miner to seek to buy as well as to sell on the spot market, bidding in recent weeks by Amplats unnerved some consumers who had anticipated prices would fall. Johannesburg-based Amplats, the world's third largest rhodium producer after Impala Platinum and Sibanye-Stillwater, had sought to buy or borrow the metal, the sources said on condition of anonymity.
Rhodium prices have leapt to their highest in 20 months, as buying interest from Anglo American Platinum (Amplats) coincided with strong demand and lower first-quarter output in South Africa, two sources familiar with the matter said.
Although it is normal for any large miner to seek to buy as well as to sell on the spot market, bidding in recent weeks by Amplats unnerved some consumers who had anticipated prices would fall.
Johannesburg-based Amplats, the world's third largest rhodium producer after Impala Platinum and Sibanye-Stillwater, had sought to buy or borrow the metal, the sources said on condition of anonymity.
